ABSTRACT
This chapter focuses on governance issues of the UN Adaptation Fund (AF) with a particular focus on ability of the Fund's board to oversee the administrative apparatus, which performs daily tasks, and to perform a role of strategic steering, reflecting the interests and aims of the Kyoto Protocol Parties. It discusses a theoretical context, the secretariat and trustee of the AF together are referred as an international organization serving as an agent of the Kyoto Protocol Parties. As a subject of international regulation, adaptation can be traced back to the 1992 text of the United Nations Framework Convention on Climate Change. The Adaptation Fund as a multilateral climate finance instrument is innovative in its governance, resource mobilization, and allocation of funds. Some of the progressive features have been taken up by the Green Climate Fund and were used to reform the Global Environmental Facility.
